Shareholders approve Seven's $26m Engin bid

Seven's cash injection to drive Engin’s new telephony offerings to market

Shareholders of Engin have given the green light to the Seven Network's bid for a $26 million, 33 percent stake in the broadband telephony company.

Engin CEO and executive director, Ilkka Tales said, 99.5 percent of the company's shareholders voted in favour of the strategic partnership that will see Seven appoint three new non-executive directors, Rohan Lund, Ryan Stokes and Bruce McWilliam, to the board of Engin.

However, Tales said the new executives would not be taking a day-to-day interest in the running of the business.

"We are reasonably aligned from a strategic perspective at the board level but it won't drastically change any of our decision making processes," he said.

Tales explained that the capital invested by Seven would be used to drive Engin's new telephony offerings to market with greater advertising exposure through Seven, Yahoo and Pacific Magazines.

"We're working on a number of campaigns across Seven's media to drive activity into the mass market," he said.

In the last four weeks, Engin has announced the launch of a new integrated ADSL2+ modem and wireless router with inbuilt Engin services, a cordless handset and a partnership with HP to offer Internet telephony bundled with desktops and laptops.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.
Show Comments

Brand Post

Bitdefender 2018

With determination and drive, you achieve outstanding performance! Get Bitdefender Total Security 2018 Now!

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?